Answer the following statements true (T) or false (F)
1) The acid-test ratio is also known as the quick ratio.
2) The higher the acid-test ratio, the less able the business is to pay its current liabilities.
3) The acid-test ratio is a more stringent measure of liquidity than the cash ratio.
4) An acid-test ratio of 1.0 is considered safer than a ratio of 0.50.
5) Accounts Receivable are generally reported at the gross amount on the balance sheet.
1) TRUE
2) FALSE
3) FALSE
4) TRUE
5) FALSE
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Bonds payable plus the premium or less the discount on bonds payable equals the ____________________
Fill in the blank(s) with correct word
Bing's Export Co purchased a new delivery truck at the beginning of 2015 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2015 . The truck was driven 20,000 miles during 2015 and 24,000 miles during 2016 . The number of expected miles over five years is 100,000. Refer to information
about Bing's Export Co Bing's Export Co wants to use the depreciation method that will result in the highest depreciation expense for 2015 . Which method should be used? a. straight-line b. units-of-production c. double-declining-balance d. all methods create the same income in 2015
Which of the following represents the idea that listening can be self-directed?
A) A communicator should understand his or her own nonverbal signals. B) A communicator should always consider the communication from the audience's point of view. C) A communicator should develop an outline to ensure all key ideas are covered. D) A communication should take cultural bias into consideration while listening. E) A communicator should strive to make sure his or her ideas are understood clearly, and utilized, in the workplace.
Who are the users of financial statements and what do they need?